How do I close an account in Quicken?

Question

I'm using Quicken 2009 and I have a Roth IRA account that I transferred to a new bank. What is the best way to "close" this account?

If I delete the account, it won't show up in my historical net worth and it will appear as though when I made the transfer to the new Roth IRA account I magically jumped up in net worth.

If I mark the account as "Hide this account in Quicken (lists, menus, reports)" I think I have the same problem.

If I mark the account as "Hide this account in Account Bar" I get a new entry called "Other accounts" and the account appears under there with a 0 balance. This is my current solution, though not perfect as it still appears in my list of current accounts and therefore causing some confusion.

How do I close an account in Quicken?

Answer 1

I don't think there is any other solution that the one you are adopting. More info at

http://quicken.intuit.com/support/articles/using-quicken/managing-accounts/4426.html

http://quicken.intuit.com/support/articles/using-quicken/managing-accounts/4422.html

Answer 2

first create the new account (if there isn't one existing) make a transfer payment from the old account to the new account for the amount showing now 'hide' the old account as the asset value should be zero and thus not important

you can always look back into the old account using this tactic

If necessary, make any adjustments to the opening balance in the new account if you manually input the starting value originally or entered a 'deposit' transaction to 'open' the account